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*Need an answer by the end of the day* Anita purchased three bonds to form a portfolio as follows: Bond A has a Macaulay duration
*Need an answer by the end of the day*
Anita purchased three bonds to form a portfolio as follows:
Bond A has a Macaulay duration of 20.50 years, and was purchased for $1985.
Bond B has a Macaulay duration of 10.35 years, and was purchased for $1015.
Bond C has a Macaulay duration of 11.75 years, and was purchased for $2000.
Calculate the Macaulay duration of the portfolio at the time of purchase.
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